Friday, October 16, 2009

More Foxes In The Hen House

It just can't get anymore ironic. It just can't.Ok, here we go. The SEC announced today its appointment of 29 year old Goldman Sachs employee, Adam Storch to a new position in the Securities and Exchange Commission. His new job, as the LA Times puts it, "the first chief operating officer in the agency's enforcement division".

So Goldman Sachs, who just got a crapload of money from the government (aka the taxpayer) and has had its own people at the helm in high places in government, like Henry Paulson, who helped to create the worst economic scenario Americans have seen since the Great Depression, gets the nod from the SEC to to let them hire one of their 29 year old minions to help "make the SEC's Enforcement Division more efficient" ?

Excuse me while I laugh and cry at the same time.

Lets take a look at how much money has been given (stolen) to Goldman Sachs from all of us. Here's a piece from Shelly Roche's post on her site ByteStyle.tv on how much money Goldman Sachs got from our federal government's bailouts and how they're magically profiting these days:

How did Goldman, Sachs & Co. -- saved a year ago by the US taxpayer -- magically make $3 billion in 3 months a year later?This as the US dollar collapses, unemployment soars and foreclosures hit a record?

Here is the Goldman, Sachs & Co. revenue break down for the past 3 months:

I just have a quick question for you but couldn't find an email so had to resort to this. I am a progressive blogger and the owner of the mahablog. Please email me back at barbaraobrien@maacenter.org when you get a chance. Thanks.